Netflix Inc. (NFLX) Now Covered by Analysts at Loop Capital
Loop Capital initiated coverage on shares of Netflix Inc. (NASDAQ:NFLX) in a report released on Tuesday morning. The firm issued a buy rating and a $125.00 price objective on the Internet television network’s stock.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $116.00 price objective (down from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners reduced their price objective on shares of Netflix from $145.00 to $130.00 and set a buy rating for the company in a report on Wednesday, July 20th. Vetr raised shares of Netflix from a hold rating to a buy rating and set a $103.71 price objective for the company in a report on Thursday, September 8th. BMO Capital Markets reaffirmed a market perform rating and set a $85.00 price objective on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group reaffirmed an underperform rating and set a $76.00 price objective on shares of Netflix in a report on Friday, September 23rd. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix has a consensus rating of Hold and an average target price of $110.97.
Netflix (NASDAQ:NFLX) traded up 2.27% on Tuesday, hitting $104.66. 2,834,801 shares of the stock traded hands. The stock has a market cap of $44.87 billion, a P/E ratio of 327.06 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a 50-day moving average price of $97.38 and a 200 day moving average price of $96.17.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Netflix will post $0.29 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total value of $140,000.00. Following the completion of the transaction, the director now owns 16,262 shares of the company’s stock, valued at $1,626,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $96.90, for a total transaction of $67,830.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,507,957.80. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Capital Management LLC bought a new position in Netflix during the second quarter worth approximately $209,447,000. Capital World Investors boosted its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares during the period. Jericho Capital Asset Management L.P. bought a new position in Netflix during the first quarter worth approximately $94,076,000. Capital Research Global Investors boosted its position in Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock worth $4,571,055,000 after buying an additional 761,325 shares during the period. Finally, Criterion Capital Management LLC boosted its position in Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares during the period. 78.43% of the stock is owned by hedge funds and other institutional investors.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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